"Meet the Hong Kong start-up hoping to make bitcoin mining environmentally friendly"

Cryptocurrency mining is the latest industry to ‘go green’ thanks to the technology behind Hong Kong’s first and only bitcoin mine
Mining for virtual currencies like bitcoin may not be as messy as its real-world equivalent, but the supply of electricity needed to cool the massive computing power that produces the currency means it has also developed a reputation for harming the environment.
A Hong Kong start-up is seeking to change that by coming up with a cooling method that proves the mining of bitcoin and other blockchain-based currencies can work in a city with a short supply of land and high electricity costs.
The five year old firm, Allied Control, even built the city’s first and only bitcoin mine to demonstrate it.
“Hong Kong is not really the best place for bitcoin mining,” said Lau Kar-wing, CEO of Allied Control, pointing to its subtropical climate and high cost of rent.
The bitcoin mine has since closed but Lau said he got what he wanted: proving he could mine profitably in a previously unthinkable location like Hong Kong.
The burgeoning market for cryptocurrencies is backed by blockchain technology, essentially a digital ledger that records transactions across many computers so their record cannot be altered without the permission of multiple parties.